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Initiated a Swap of 41,641.104 Old LOOM tokens for ETH though Trezor Exchange and accepted the offer by Godex.io for about 1.3 ETH. The Godex address I was provided to send is 0x1a31df52BB0BC938b47652A91d3045e5681eb6aD
After about 12 hours from
sending, my exchange order showed Failed status even though my sent tokens were already confirmed. I contacted support and was told old LOOM tokens are deemed "invalid" tokens, even though they are swappable 1:1 for new LOOM tokens.<br />
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On-chain, I can even see that my old LOOM tokens have been sent onwards to 0x28C6c06298d514Db089934071355E5743bf21d60, a Binance account.<br />
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Therefore, not only were my tokens not swapped for ETH, but they are not sending back my old LOOM tokens that they deem "invalid", which have a market value of about USD$4,000+ when swapped for new LOOM. (Maybe slightly lesser now due to crypto market falling since)<br />
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People, be careful and not be tempted by their good swap offer rates. I picked Godex.io to swap because they were showing the best rates, but I know why they can do so now, that is because when your swap value is high enough they will receive your tokens and send you nothing back.<br />
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*reply to Godex's reply: Yes the token swap started three years ago and can still be swapped today on wallets like Exodus:
exodus[removed by editor]/support/en/articles/8598806-how-do-i-swap-old-loom-loomv1-for-new-loom-loom
That's fine you can keep my "valueless" tokens since your integrity is worth less than 4k
Review date 2024-04-23 13:08:58